NEW YORK CITY — Former President Donald Trump is mulling whether to let Attorney General Letitia James seize his assets — including Trump Tower — rather than pay a $454 million bond to appeal his civil fraud case, according to a new report.
“Friends,” “insiders” and “sources” close to Trump reportedly told the New York Post, as detailed in a story Wednesday, that he’s considering letting a March 25 deadline to post the bond simply pass.
Doing so would effectively clear the way for James to seize Trump’s assets such as Trump Tower, but sources told the Post he’s hopeful that he could recover them on appeal, the report states.
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“Even if there is a taking, it doesn’t mean he can’t take it back later,” an unnamed source told the Post, according to the report.
Trump Organization representatives didn’t return Patch’s request for comment.
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The Post report came as Trump and his attorneys fought to somehow extend or scrap the March 25 deadline to post the $454 million bond so he could appeal his civil fraud judgment.
Trump’s lawyers said this week said it was “not possible” under the circumstances to find an underwriter to cover the entire amount.
But Dennis Fan, a lawyer in James’ office, argued that Trump didn’t try hard enough.
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“Defendants’ argument that obtaining a full bond is purportedly impossible is based on the false premise that they must obtain a single bond from a single surety for the entire judgment amount of $464 million,” Fan wrote.
Fan asked the court to turn down Trump’s request to hold off collection while he appeals.
James can start taking steps March 25 to fulfill her pledge to seize some of Trump’s assets if he can’t pay.
Trump has complained about having to pay the bond.
“I shouldn’t have to put up any money, being forced by the Corrupt Judge and AG, until the end of the appeal,” he posted on Truth Social this week.
Seizing Trump’s accounts, stock portfolios or properties wouldn’t happen fast, the Associated Press reported.
James and state officials, rather than padlocking Trump Tower, instead would have to issue subpoenas requiring Trump to provide information about his finances and assets. They could then use what they learned to take his property and potentially sell it at auction.
Trump could halt collection if he declared bankruptcy, but an unnamed “insider” told Post he likely wouldn’t because “been there and done that.”
The Associated Press contributed to this report.
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